Guest Author - Kate Woods
The Taxing Subject of Taxes
When I started writing this column it was my goal to try to give helpful information about taxes with a bit of humor added to make the subject more interesting and more easily understood. Hopefully Iíve done that with my articles and the information that Iíve posted will continue to be helpful going forward.
The Taxing Subject of Taxes, as I like to refer to it, is undoubtedly one that many people prefer not to think about. Unfortunately, not thinking about it and not learning about it can cost you money. My best recommendation to you is to occasionally go to the IRS website to read about the up to the minute changes in tax laws that may have an effect on your personal tax picture, particularly if you are preparing your own tax returns.
You can also call the IRS if you have questions related to your federal taxes and speak to a customer service agent. They will identify themselves with their ID number which you should write down for future reference. Hopefully, the information you receive will be helpful and you will be able to resolve you tax questions with your call. This is a good way to get tax help with your taxes at no charge. If you find at a later date that the information that they gave you that you relied on was incorrect you can reference it to dispute penalties that may have been assessed based on your reliance on the information you were given.
Be sure that you realize that many states and localities also require you to file tax returns and pay taxes on your income. These taxes vary from location to location and your best source of information on them is the tax agencies and tax preparers in these specific localities.
There will in all likelihood be many tax changes as we move forward through the end of the recession and post recession years into a future that will hopefully offer us all a robust economy. Try to be helpful and open minded along the way so that you can be a part of the team working on solutions and improvements not part of the people who complain the loudest without ever offering any real quality suggestions to help solve the economic woes. We are all faced with solving them to reach the robust economic future we all desire.
The Taxing Subject of Taxes will undoubtedly always be a taxing subject but perhaps it will be less annoying if we all try to work together toward an outcome that benefits all classes of people who together are one taxing body of people who support America our country, our home!
Any U.S. tax advice contained in this electronic communication was not intended or written to be used, nor can be used, by any recipient of this communication for the purpose of avoiding penalties that might be imposed pursuant to the Internal Revenue Code or U.S. Treasury Regulations, or any other state or local law or regulation.
Content of this site is not intended to replace professional consultation and all information is subject to changes to federal, state and local tax laws and policies.